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OVERVIEW OF BUSINESS04 MARKS
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BUSINESS…
Business is legally recognized organization which provides goods and services to the customers in exchange of money .
It is commercial , industrial or professional activity undertaken by an individual or a group.
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TYPES OF BUSINESSSERV ICE
MANUFACTURE
TRADE
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SERVICE :
Service businesses offer services and make profit by charging for labour or other services provided to the costumers
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News media
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HOSPITALITY INDUSTRY
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HOSPITAL INDUSTRY
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MANUFACTURING BUSINESS Manufacturers make product from raw materials
or components parts which they sell at a profit.
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TRADE INDUSTRY Traders act as middle men in getting goods
produced by manufacturers to the consumers. Traders make profit in the form of commission.
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INDUSTRIAL SECTORS
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CIVIL
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ELECTRICAL ENGINEERING
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ELECTRONICS
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AERONAUTICAL
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MECHANICAL
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CHEMICAL
PROCESS INDUSTRY
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AGRO INDUSTRY THE INDUSTRY THAT USES PLANTS AND
ANIMALS AS THEIR RAW MATERIALS IS CALLED AGRO INDUSTRY.
VILLAGE INDUSTRY: OWENED AND RULED BY RURAL HOUSEHOLDS INCLUDES PRODUCTS LIKE PAPAD, BASKET MAKING
SMALL SCALE INDUSTRY: OWENED BY MEDIUM INVESTMENT IN WHICH PRODUCTS ARE HONEY, JAMS
LARGE SCALE INDUSTRY: INVOLVES LARGE INVESTMENT INCLUDES SUGER, COTTAN MILL ETC.
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INDUSTRIAL SECTORS ENGINEERING INDUSTRY. IRON AND STEEL INDUSTRY AUTOMOBILES INDUSTRY PROCESS INDUSTRY PAPER INDUSTRY CEMENT INDUSTRY TEXTILE INDUSTRY CHEMICAL INDUSTRY PETROCHEMICAL INDUSTRY AGRO INDUSTRY SUGAR INDUSTRY IT INDUSTRY BANKING AND INSURANCE SECTOR RETAIL, HOSPITALITY AND HEALTH CARE
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SOME OF THE INDUSTRIES IN INDIA AUTOMOBILE: TATA, MARUTI, ASHOK LAYLAND,
TOYATA, MAHINDRA, KINETIC HONDA , FIAT, BAJAJ, FORCE MOTORS
STEEL : SAIL, JSW STEEL, JINDAL STEEL, TISCO
PAPER : BALLARPUR INDUSTRIES LTD., ITC BHADRACHALAM (A.P.), PADUMJEE PULP AND PAPER MILLS LTD, PUNE., STAR PAPERS, J.K. PAPERS, ORRISA
CEMENT : AMBUJA, BIRLA, J.K, L& T TEXTILE: BOMBAY DYEING, RAYMONDS,
ARVIND MILLS, CENTURY TEXTILES, WELSPUN INDIA.
CHEMICAL: RELIANCE, RCF, KARGIL CO., CIPLA
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SOME OF THE INDUSTRIES IN INDIA PETROCHEMICAL: ONGC, GAIL, RELIANCE,
BP, HP, SHELL, CAIRN INDIA, PETRONET (L&G), IT SECTOR: WIPRO, TATA, INFOSIS,
SYNTEL, IBM, PERSISTANCE, KPIT BANKING : SBI, BOB, IOB, OBC,
HDFC, ICICI, INSURANCE : LIC, BAJAJ ALLIANZ, MAX
LIFE, BIRLA SUNLIFE RETAIL : DMART, BIG BAZAR,
RELIANCE MART, STAR BAZAR HOSPITALITY : TAJ, OBEROI, KOHINOOR,
RAMOJI, SAHARA, AMBASSADOR HEALTH CARE : BIRLA HOPITAL, APOLLO,
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GLOBALIZATION
Globalization is the process of transformation of a regional phenomenon into a global one.
Globalization is a process by which the people of entire world are unified into a single society and function together.
Globalization is the process of integrating national economics into international economy through trade, foreign investment, migration and spread of technology.
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GATT
GENERAL AGRREMNT ON TARIFF AND TRADE.
GATT IS TO PROMOT TRADE ACTIVITIES IN THE WORLD.
IN 1995 GATT IS REPLACED BY WTO
WTO WORLD TRADE ORGANIZATION
INDIA IS A MEMBER OF WTO.
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ADVANTAGES OF GLOBALIZATION
It has brought huge amount of foreign investment into the industry.
Indian economy has got boosted Many foreign companies set up industries in India
which reduces unemployment and poverty. Indian companies set up plants elsewhere in the
world. Foreign companies has brought highely advanced
technology. Increase in information flow Greater international travel and tourism has
generated employment.
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DISADVANTAGES OF GLOBALIZATION Increase in competition industries have to
upgrade. Traditional trade systems faces survival
problems. The customers prefer to buy foreign goods than
Indian goods. Due to upcoming technology like robot the
employment has got reduced. Due to less environmental regulations increase in
pollution. Imported culture is dangerous to Indian culture.
E.g.: western styles, relationships, family systems ,etc.
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INTELLECTUAL PROPERTY (IP) Intellectual property (IP) is a legal concept
which refers to creations of the mind for which exclusive rights are recognized.[1]
Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs.
Common types of intellectual property rights include copyright, trademarks, patents, industrial design rights, trade dress, and in some jurisdictions trade secrets.
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WHAT ARE INTELLECTUAL PROPERTY RIGHTS? Intellectual property rights are the rights given
to persons over the creations of their minds. They usually give the creator an exclusive right
over the use of his/her creation for a certain period of time.
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INTELLECTUAL PROPERTY RIGHTS It refers to creations of human mind like
inventions, literacy, and artistic work and symbols, images and designs used in commerce.
IPR is temporary grants of monopoly intended to give economic incentives for innovative activity.
IPR HAS THREE TYPES COPYRIGHT: It is legal right to have control
over the work of writer, artist PATENT: Legal document which gives legal right
to someone who has invented something to sell that invention
TRADEMARK: It is name or design belonging to particular company.
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IMPORTANCE OF IPR
It protects the interest of creator by giving them exclusive rights over their creations.
IPR protected through law IPR is the foundation of knowledge based
economy. It is important for insuring competitiveness of
the enterprises.
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INTRODUCTION TO LPG
LIBRALISATION : BE LIBERAL IN BUSINESS POLICIES/ TRADE / INDUSTRIAL POLICIES
PRIVATISATION: GOVERNMENT OWNER SHIP OF SOME ORGNISATION IS GIVEN TO PRIVATE COMPANIES.
GLOBALIZATION : BUSINESS THROUGH OUT WORLD.
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IMPACT OF LPG: Purchasing power parity increased. Money flow increased in Indian economy. Market expansion is observed. Import export is increased. License raj reduced. New attention to patents and research
work. Service industry started growing up. Disinvestment of government companies to
reduce budgetary deficit, to generate resource, to generate money, to reduce controls, to reduce corruptions, to reduce load on government systems.
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KEY WORDS Business Trade Retail Insurance sector Hospitability Health care Globalization Gatt , WTO LPG PSU: public sector undertaking Privatization. Employment, employee Equity , stock market, shares